The ridiculous Supreme Court decision to let corporations spend whatever they want on behalf of political candidates just got more ridiculous: Lawyers say that under the ruling there’s a loophole that would allow companies to do so anonymously.
As the country awaits a key Supreme Court ruling on campaign finance law, several recent lower-court decisions have rolled back longstanding restrictions on political ad spending, a possible boost for Republicans in this election year.
Without skipping a beat, once-troubled financial entities are continuing to spend big to lobby Congress as they pocket billions in TARP bailout money. The lobbying is defended by the bail-outted firms as a “transparent and effective way” to be heard on policy issues.
While Barack Obama banned corporations and big donors from funding his inauguration so as to not trammel the public celebration, the big event’s multimillion-dollar bill is instead being footed by Wall Street executives and other financial employees acting as fundraisers. Abracadabra—no more special interests.